TO ALLOW CHINESE YUAN WHEN MAKING A PAYMENT AT VIETNAM - CHINA BORDER
The foreign exchange management with regard to Vietnam - China border trade activities is guided by the State Bank of Vietnam at the Circular No. 19/2018/TT-NHNN dated August 28, 2018.
Accordingly, payment currencies used in cross- Vietnam - China border goods and service trading and exchange activities will be freely convertible foreign currencies, Vietnam dong (VND) or Chinese Yuan (CNY).
With regards to payment modes, using via-bank payment method, by VND in cash or CNY in cash.
Vietnamese traders may receive VND in cash or CNY in cash from export of goods through secondary border-gates, border passages under provisions of law on border trade activities and remit into payment accounts at border bank branches.
Within that, revenue in cash from every contract on export of goods via secondary border gate, border passage can be remitted into only one payment account (in VND or CNY) opened at a border bank branch.
When remitting cash into accounts, Vietnamese traders shall produce vouchers and take responsibility before law for the truthfulness of assorted papers, vouchers produced to border bank branches.
This Circular takes effect on October 12, 2018.
